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List of the largest SaaS companies in Toronto, Canada

Top SaaS Companies in Toronto

These are the top SaaS companies in Toronto, Canada. In todays day and age its possible to launch a company from anywhere. We wanted to show some love for Toronto by featuring these 358 companies with combined revenues of $7.4B.

Together, Toronto SaaS companies employ over 46K employees, have raised $3.5B capital, and serve over 517M customers around the world.

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Highlights

11
Q
Q4

CRM and Related Software

Q4 is a SaaS platform that provides advanced communication and intelligence solutions to investor relations officers and the C-suite of public companies. With the goal of improving the effectiveness of investor relations through innovative, forward-thinking website solutions, the Q4 team designed an alternative approach to IR websites that put storytelling first and emphasized intuitive corporate reporting. Q4 is a trusted partner to over 2,200 of the world’s largest brands. Q4’s comprehensive portfolio of IR communications, intelligence and corporate access solutions, supported by an industry-leading customer experience model, empower customers to build impactful and strategic IR programs

$39M
$65M
225M
435
2006
Canada
12
CW
CaseWare

Accounting And Finance Software

Developer of financial software designed to help auditors, accountants and other finance professionals to perform data analysis, improve audits and identify control breakdowns. The company's software automates the financial reporting process and creates a streamlined approach for managing and conducting audits, reviews and compilations and also perform detailed analysis and fraud detection tests and support overall practice management, enabling accounting firms, governments and corporations manage audit and financial reporting processes more efficiently and with less risk.

$39M
-
-
444
1988
Canada
13
Z
Zafin

Accounting And Finance Software

Provider of financial software products intended to make banking better for both the customer and the bank. The company's SaaS-based platform offers a product and pricing lifecycle management (PPLM) platform which allows banks to manage products, pricing, loyalty and billing across the entire client relationship, enabling banks deepen customer relationships by uniting common customer, product, pricing and billing functions in one integrated service.

$36M
$32M
40
419
2002
Canada
14
A
Ada

Marketing Automation Software

Ada's AI-powered platform enables enterprise businesses around the world to automate an incredible customer experience that saves time, reduces cost, and strengthens support. Our industry-leading clients like Telus, Upwork and Shopify, trust us to harmonize humans and AI to deliver instant, empathic, and effortless customer engagement.

$35M
$192M
5K
235
2016
Canada
15
P
Perfectcloud

Security Software

Unified Cloud Security

$32M
-
850
35
2015
United States
16
vF
vFairs

Event Management Software

vFairs is a leading virtual events software that helps organizations host virtual job fairs, career fairs, online trade shows & more by using a virtual enviornment, chat tools and embedded webinars. Fully branded booth. Customizable software. A+ suppor....Virtual/Hybrid Event Platform Provider

$30M
-
1K
250
2016
United States
17
W
Waveapps

Erp Software

Wave is a company that provides a suite of financial services and online software for small businesses.

$25M
$79M
10K
280
2011
Canada
18
U
Uberflip

Marketing Software

Empower marketers creating great experiences

$25M
$44M
500
144
2011
Canada
19
A
Acquia

Cloud Computing Software

Acquia provides the leading cloud platform for building, delivering, and optimizing digital experiences.

$24M
-
4K
251
2007
United States
20
TB
TouchBistro

Application Development Software

TouchBistro is an iPad POS (point of sale) built for restaurants. The company is a provider of restaurant management system services like tableside ordering, restaurant table management, payment processing solutions and customer relationship management (CRM). The company is headquartered in Ontario, Canada. It was founded in 2010.

$23M
$227M
1K
488
2011
Canada
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What are the fastest growing companies doing?


83 of the fastest growing companies that also have the most revenue have a clear expansion revenue strategy. On average, sales reps are selling plans where starting contract value is $4,606.

Those same companies employ 1,678 sales reps that carry a quota. The most common compensation plan used by these companies is a 1:5 ratio of sales rep on target earnings (OTE) to quota. Meaning if a rep can earn $200k in base and commissions, quota target for that year is set at 5x, or $1m in new ARR closed.

If you’re going to build a high growth SaaS company, you need to figure out how to scale with quota carrying sales reps.

Which CEO’s are the most efficient capital allocators?


We can measure this a variety of ways. Which company has the most revenue per employee? What about dollars in revenue compared to dollars raised? What about time, which founder went from $0 to $10m the fastest?

Looking deeper at dollars in revenue compared to dollars raised, bootstrappers take the cake because they self fund (denominator zero). When we look at companies that have raised at least $1m, Actito is the clear winner generating $21m in revenue, growing 100% yoy, on just 1m raised ($.05 dollars raised for every $1 of revenue).

Omnisend comes in a close second with $.08 dollars raised for every dollar of revenue. Doing $19m as of December 2020. Proposify gets honorable mention with $0.46 dollars raised (3.25m) for every dollar of revenue ($7m).

The worst performers here are companies like YayPay with $3.68 dollars raised ($14m) per dollar of revenue ($3.8m). Many of the worst performers just did a round of funding and haven’t had a chance to deploy to drive growth yet. That makes this data less valuable but still illustrative.